A wheel and a rim with weight reduction sockets are provided. The rim is made of an aluminum alloy and includes an inner flange, a middle portion and an outer flange, the inner flange, middle portion and outer flange are all annular and are connected end to end to form a cylindrical rim, in which weight reduction sockets are provided on the outer surface of the middle portion of the rim; the weight reduction sockets are rectangular ones, and are arranged in lattices in turn; and 3-5 rows of weight reduction sockets are arranged annularly on the outer surface of the middle portion of the rim.